Title 48, Territories and Insular PossessionsRelease 119-110
§2150 No Full Faith and Credit of the United States
Title 48 › CHAPTER 20 — PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY › SUBCHAPTER II — RESPONSIBILITIES OF OVERSIGHT BOARD › § 2150
Summary
The United States won't pay or back debts of a covered territory or its instrumentality. Any U.S. liability under this law needs Congress to approve funds, and the law does not allow federal money to pay those debts.
Full Legal Text
Title 48, §2150
Territories and Insular Possessions, Source: USLM XML via OLRC
(a)In general
The full faith and credit of the United States is not pledged for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality. The United States is not responsible or liable for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality.
(b)Subject to appropriations
Any claim to which the United States is determined to be liable under this chapter shall be subject to appropriations.
(c)Funding
No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This chapter, referred to in subsecs. (b) and (c), was in the original “this Act”, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see
Short Title
note set out under section 2101 of this title and Tables.
Reference
Citations & Metadata
Citation
48 U.S.C. § 2150
Title 48, Territories and Insular Possessions
Last Updated
Sep 22, 2026
Release point: 119-110